BJP’s Confidence Shines Through in Budget 2024: No Tax Cuts, No Major Announcements, Keeping Eyes on Elections

BJP's Confidence Shines Through in Budget 2024: No Tax Cuts, No Major Announcements, Keeping Eyes on Elections

The interim budget for 2024 presented by Finance Minister Nirmala Sitharaman lacked big-ticket announcements and offered no tax relief, underscoring the ruling BJP’s confidence as the nation gears up for the upcoming general elections. While this is not a full budget, taxpayers had anticipated some relief in this election year, yet the government seems to be saving major announcements for its detailed budget scheduled for July.

Prime Minister Narendra Modi set the tone on the budget expectations, stating, “Just before the election, we don’t submit a full budget; this we will do after a new government is elected. This interim budget is a guideline for us. I am hopeful that the country will touch new heights of prosperity. Development for everyone is taking place. This journey will continue with your blessings. Ram Ram.”

Despite hopes for some tax relief, Sitharaman maintained the convention of not making any taxation changes in an interim budget. Addressing the media, she explained, “We have largely kept vote on account as vote on account. We have showed how the economy will move forward, and areas on which we will work later. It is the vote on account of a confident government.”

The BJP welcomed the budget, with Union Home Minister Amit Shah stating that it “draws the roadmap” to achieve Prime Minister Modi’s vision of a Developed Bharat by 2047. External Affairs Minister Dr. S Jaishankar described the budget as capturing a decade of transformation while laying out a vision for further development. Union Minister Rajeev Chandrasekhar praised it as an “excellent summary of the qualitative and quantitative transformation of the Indian economy in the last 10 years,” and BJP veteran Nitin Gadkari labeled it as a budget to “speed up the country’s development and increase employment.”

Opposition leaders, however, expressed disappointment, with Samajwadi Party chief Akhilesh Yadav calling it the “farewell budget” of the BJP. Congress MP Shashi Tharoor criticized the lack of concrete figures and implementation details in the budget speech.

As the BJP displays confidence in its prospects for the upcoming Lok Sabha polls, the Opposition’s INDIA bloc grapples with challenges in seat-sharing talks and internal cohesion. With just months left for the election, the BJP’s bold stance contrasts with the struggles faced by the Opposition in various states, potentially impacting the political landscape leading up to the big poll contest.

Sources By Agencies

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